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Toyota, Geely in talks about cooperation in hybrid vehicle tech

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Toyota, Geely in talks about cooperation in hybrid vehicle tech

Toyota, Geely in talks about cooperation in hybrid vehicle tech
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Marco Bello(Reuters)
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BEIJING (Reuters) - Toyota Motor Corp <7203.T> on Friday said it is in talks with Chinese automaker Geely [GEELY.UL] about cooperation in gasoline-electric hybrid vehicle technology, but nothing has been decided on the matter.

The Japanese automaker said in a statement to Reuters that it and Geely are currently "communicating with each other" about gasoline-electric hybrid technology.

"Toyota has been conducting the business with the open policy which also applies to the area of electrification technologies. The relationship with Geely (Toyota is exploring) is also based on this open policy," the statement said.

Toyota's response comes after a Chinese media report said Geely was working with Toyota on the conventional hybrid technology. The report said details on the joint effort would be announced soon.

(Reporting By Norihiko Shirouzu)

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